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Absolute Breadth

From MultiCharts
Absolute Breadth

Referred to as a market momentum indicator, the absolute breadth index (ABI) is equal to the absolute value of the difference between the advancing issues and the declining issues. It shows how much activity and volatility and change is taking place on the NYSE while ignoring the direction prices are going. It shows only market activity.

The indicator is developed by Norman G. Fosback.

Default Inputs

AdvIssues( Close of data1 ) sets the data series where Advancing Issues instrument is inserted.

DecIssues( Close of data2 ) sets the data series where Declining Issues instrument is inserted.

This indicator requires two data series to be used in a single chart. For correct calculation, data1 should contain the data for Advancing Issues and data2 should contain the data for Declining Issues. Please check if your data source provides this kind of data.